The amount paid towards the pension funds is considered as 80CCC investment. 80CCC deduction is in respect of amount deposited under an annuity plan of LIC or other insurer for receiving pension.The maximum amount deductible under section 80CCC is Rs.100000/-.Though total limit of Section 80C, 80CCC and 80CCD(1) is increased to Rs 150000/- from FY 2014-15 onwards, the limit for section 80CCC is Rs 100000/- for FY 2014-15 as well. This limit is proposed to be increased to Rs 150000/- in Budget for Financial Year 2015-16.